Which is the best definition of inflation? a gradual decrease in the price of goods and services a gradual increase in the price of goods and services an exponential decrease in the price of goods and services an exponential increase in the price of goods and services

Question

Social Studies

Darien

21 February, 10:00

Which is the best definition of inflation? a gradual decrease in the price of goods and services a gradual increase in the price of goods and services an exponential decrease in the price of goods and services an exponential increase in the price of goods and services

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Answers (2)

Know the Answer?

Clare Bradford · Answer 1

B. A gradual increase in the price of goods and services

Explanation:

Inflation refers to the constant increase in the monetary price of goods and services in a specific economy. This happens when the monetary value of a country's economy increases due to the fact that there is a high demand for goods and services.

When the inflation rate reaches less than 0%, the prices decline and this what is called deflation.

Olive Blackburn · Answer 2

I'm pretty sure that the first one is the best.